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Release Date: August 17, 2005

For immediate release

Federal Reserve Board Chairman Alan Greenspan on Wednesday named Governor Donald L. Kohn to replace Governor Edward M. Gramlich as the Chairman's designee on four federal loan guarantee boards, effective September 1, 2005. Gramlich is resigning from the Board of Governors of the Federal Reserve System, effective August 31, 2005.

Governor Kohn will serve as chairman of the Air Transportation Stabilization Board, the Emergency Steel Loan Guarantee Board, and the Emergency Oil and Gas Loan Guarantee Board, and as a member of the LOCAL Television Loan Guarantee Board.

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Last update: August 24, 2005